On September 10, 2024, Audax Private Equity ("Audax") announced its acquisition of Mississauga, Ontario-based Total PowerGen Solutions ("TPGS") from Trivest Partners in a strategic M&A transaction. The financial terms of the deal were not disclosed. TPGS is a leading provider of power generation solutions in Canada, offering critical maintenance and repair services, generator rentals, and new equipment distribution for commercial and industrial generators.

Through its "Buy & Build" strategy, Audax plans to support TPGS's expansion across North America, including growth into the U.S. market. TPGS, established in 1959, has become a key player in Canada's generator service industry. CEO Andrew Rudderham expressed confidence in Audax’s ability to accelerate growth and further strengthen its North American footprint.

Stephens acted as financial advisor to the sellers, with legal counsel from Blake, Cassels & Graydon LLP. Guggenheim Securities, LLC advised Audax, and legal counsel was provided by Stikeman Elliott LLP in Canada and Kirkland & Ellis LLP in the U.S.